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      Why Sonoma Pharmaceuticals, Inc. (SNOA) stock is soaring today? - Stocks Telegraph

      By Muhammad Ali

      Published on

      August 19, 2021

      2:25 PM UTC

      Why Sonoma Pharmaceuticals, Inc. (SNOA) stock is soaring today? - Stocks Telegraph

      Shares of Sonoma Pharmaceuticals, Inc. (SNOA) stock were soaring today after it announced the launch of two new dental products. SNOA stock price saw a surge of 108.69% to reach $11.29 a share at the time of this writing. The stock was also gaining in the previous trading session and went up by 1.12% at closing. Let’s deep dive to explore more of it.

      What’s Happening?

      Sonoma Pharmaceuticals, Inc is a leading pharmaceutical company that develops and produces Microcyn® technology-based stabilized hypochlorous acid (HOCl) products for a wide range of indications. SNOA today announced the launch of its two new dental products. First, is OroGenix Oral Hygiene Rinse which SNOA stock developed with Gabriel Science, LLC. This is the second product of SNOA in the United States. The second product which SNOA stock launched along with its partner Medical Systems Solutions is Microdacyn® Oral Care. This product is launched in Switzerland and is intended for professional and consumer use.

      Back in December 2020, Sonoma stock launched Endocyn® for root canal irrigation. The new product OroGenix Oral Hygiene Rinse helps the dentist and patients to achieve healthy gums, teeth, and oral cavity.

      Financial View of SNOA stock:

      Earlier this week, SNOA stock did announce first quarter 2022 financial results the highlights of which are as follows.

      • Sonoma stock reported  $3.7 million in the quarter ended June 30, 2021, 36% lower than the same prior-year quarter.
      • The gross margin for the SNOA stock was $1.5 million, or 39% of revenue as the cost of revenues was 2.2 million. The previous year’s same quarter’s gross margin was $2.3 million, or 39% of revenue.
      • SNOA stock spent $2.4 million operating expenses in the reported quarter, 19% lower than the prior year same quarter. Lower employee costs resulted decrease in operating expenses.
      • Sonoma stock suffered a net loss of $1.1 million from operations, 55% higher than the net loss of the prior year same quarter.
      • Sonoma stock reported $2.8 million in cash and cash equivalents by the end of the reported quarter.

      Conclusion:

      Investors are responding positively to the launch of two new products by the SNOA stock. In the last 12 months, Sonoma stock lost 37.60%. Investors having long-term prospects need to do great research before adding this stock to their portfolio.

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